To individuals looking into investing in a Caribbean second passport and citizenship by investment program, this is your chance to take advantage of the Saint Lucia COVID-19 relief bond.
The COVID relief bond for Saint Lucia was introduced as a temporary measure to support the Saint Lucia citizenship by investment program, to aid the nation’s economy in recovery from the COVID 19 pandemic’s effect on its tourism sector. The Relief Bond has been effective and successful with an increased number of applicants.
Since 2020, St Lucia has been offering a significantly more cost-effective version of its popular St Lucia government bond. The minimum investment amount of COVID-19 bonds is USD 250,000 in non-interest-bearing bonds to be kept for a minimum of five years, which is half the amount for the standard option, which starts at USD 500,000.
But as one might expect from a limited offer, the end is drawing near. The COVID-19 relief bond will cease to be an investment option on December 31, 2022, and no more extensions granted, according to a document from the Saint Lucia Citizenship by Investment Unit.
St Lucia Passport Benefits
The Saint Lucia citizenship program grants investors and their families many advantages, such as:
- Visa-free or visa-on-arrival travel to 147 countries with a St Lucian passport, including Europe’s Schengen Area, Hong Kong, Singapore, and the UK
- Passport holders from Saint Lucia can benefit from no tax on worldwide income
- Dual citizenship is recognized in St. Lucia. Hence, there is no need to renounce current nationality
- Applicants can list their spouse, children under the age of 31, siblings under the age of 18, parents who are 56 years or older, as well as additional dependents after receiving citizenship
Saint Lucia COVID-19 Relief Bond Details
Investors and high-net-worth individuals can benefit from a 50% investment decrease from the COVID relief bond until December 31st of 2022. Instead of investing in a minimum amount of USD 500,000 under the previous bond option for a single application, applicants can apply for the program through the relief bond for an investment of not less than USD 250,000.
In addition, the administrative cost charged by the government has been decreased from USD 50,000 to USD 30,000 and is only due upon approval.
The following are the investment requirements under the COVID-19 Relief Bond Option:
- Main applicant: USD 250,000 with a 5-year holding period
- Main applicant with spouse: USD 250,000 with 6-year holding period
- Main applicant with spouse and two dependents: USD 250,000 with a 6-year holding period or USD 300,000 with a 5-year holding period
- Additional dependent who qualifies: USD 15,000
- A government processing fee of USD 30,000 is further charged
Details About Saint Lucia Citizenship by Investment Program
The Saint Lucia Citizenship by investment program, or Saint Lucia CIP, was established in 2015 with the goal of advancing economic growth and national development. Applicants must choose an investment route and in exchange, the applicants and their family are given full citizenship.
If you are interested in learning more about Saint Lucia citizenship by investment program, you can read more about it here.
Who can help me apply for Saint Lucia Passport & Citizenship?
Choosing a reputable and respectable legal firm is necessary to obtain a dual citizenship and passport. Bluemina Citizenship & Residency team of expert consultants will provide support during all stages of the process, from initial consultation, risk assessment, making the right investment choice, preparing and obtaining all necessary documents, to collecting and delivering the passports.
To apply for the chosen citizenship though investment program, fill this form and our advisors will contact you for a free consultation.